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Hindi Research Article, J Tourism Res Hospitality Vol: 1 Issue: 3
Estimating Price Effects in an Almost Ideal Demand Model of Outbound Thai Tourism to East Asia
| Chia-Lin Chang1*, Thanchanok Khamkaew2 and Michael McAleer3 | |
| 1Department of Applied Economics and Department of Finance, National Chung Hsing University, Taichung, Taiwan | |
| 2Faculty of Economics, Maejo University, Thailand | |
| 3Econometric Institute, Erasmus School of Economics, Erasmus University Rotterdam and Tinbergen Institute, The Netherlands | |
| Corresponding author : Chia-Lin Chang Department of Applied Economics, Department of Finance, National Chung Hsing University, Taichung 402, Taiwan, Tel: +886 (04)22840350, ext 309; Fax: +886(04)22860255 E-mail: changchialin@nchu.edu.tw |
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| Received: July 24, 2012 Accepted: August 25, 2012 Published: August 31, 2012 | |
| Citation: Chang CL, Khamkaew T, McAleer M (2012) Estimating Price Effects in an Almost Ideal Demand Model of Outbound Thai Tourism to East Asia. J Tourism Res Hospitality 1:3.10.4172/2324-8807.1000103 |
Abstract
Estimating Price Effects in an Almost Ideal Demand Model of Outbound Thai Tourism to East Asia
This paper analyzes the responsiveness of Thai outbound tourism to East Asian destinations, namely China, Hong Kong, Japan, Taiwan and Korea, to changes in the effective relative price of tourism, total real total tourism expenditure, and one-off events.
The nonlinear and linear Almost Ideal Demand (AID) models are estimated using monthly data to identify the price competitiveness and interdependencies of tourism demand for competing destinations in both long-run (static) and shortrun (dynamic) error correction specifications. Homogeneity and symmetry are imposed in the long-run and short-run AID models to estimate the elasticities.
